Dan Kealey, five-term incumbent member of Burnsville's City Council, running again this year, has made a career of being a predatory lender with a local financial services company. During the height of the Great Recession, Kealey joined PAL Management, Inc, where he works full-time as "Director of Marketing, e-Commerce & Business Development." PAL's LinkedIn page lists a series of financial services companies: Payday America, Cashpass Network, My Bridge Now, and Pawn America.
This payday loan company had to stop offering services in 2023, when the state capped interest rates at 36%, or 50% with a repayment analysis. When Kealey joined PAL in 2008, APR on Payday America loans were between 228% and 737%.
A pre-paid debit card service, that until 2022, advertised itself as an "alternative bank solution." Fees were up to $3 per transaction, up to $20 per deposit, $0.50 to check your balance.
This company, which is still offering services, offers "cash when you need it," by pawning collateral for a "non-recourse transaction" between $3,000 and $500,000, with APRs between 48.67% and 121.7%.
Burnsville deserves leadership that didn't jump into the payday loan business to take advantage of desperate constituents during the Great Recession. Please consider challenger Nick Benson, who stands up for vulnerable people, instead of taking their money.